Orion Engineered Carbons said on June 8, 2023 that its board of directors declared a regular quarterly dividend of $0.02 per share ($0.08 annualized). Previously, the company paid $0.02 per share.
Shares must be purchased before the ex-div date of September 14, 2023 to qualify for the dividend. Shareholders of record as of September 15, 2023 will receive the payment on October 5, 2023.
At the current share price of $24.55 / share, the stock's dividend yield is 0.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.01%, the lowest has been 0.31%, and the highest has been 11.89%. The standard deviation of yields is 2.76 (n=177).
The current dividend yield is 0.97 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.90%.
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What is the Fund Sentiment?
There are 408 funds or institutions reporting positions in Orion Engineered Carbons. This is an increase of 40 owner(s) or 10.87% in the last quarter. Average portfolio weight of all funds dedicated to OEC is 0.37%, an increase of 2.49%. Total shares owned by institutions decreased in the last three months by 0.97% to 62,485K shares. 
The put/call ratio of OEC is 1.37, indicating a bearish outlook.
Analyst Price Forecast Suggests 41.26% Upside
As of June 1, 2023, the average one-year price target for Orion Engineered Carbons is 34.68. The forecasts range from a low of 29.29 to a high of $43.05. The average price target represents an increase of 41.26% from its latest reported closing price of 24.55.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Orion Engineered Carbons is 2,197MM, an increase of 7.32%. The projected annual non-GAAP EPS is 2.55.
What are Other Shareholders Doing?
Pzena Investment Management holds 3,569K shares representing 6.06% ownership of the company. In it's prior filing, the firm reported owning 4,344K shares, representing a decrease of 21.69%. The firm increased its portfolio allocation in OEC by 16.93% over the last quarter.
T. Rowe Price Investment Management holds 3,341K shares representing 5.68% ownership of the company. In it's prior filing, the firm reported owning 3,645K shares, representing a decrease of 9.11%. The firm increased its portfolio allocation in OEC by 25.45% over the last quarter.
William Blair Investment Management holds 2,975K shares representing 5.05% ownership of the company. In it's prior filing, the firm reported owning 3,348K shares, representing a decrease of 12.51%. The firm increased its portfolio allocation in OEC by 18.60% over the last quarter.
Inherent Group holds 2,742K shares representing 4.66% ownership of the company. No change in the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 2,090K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 2,299K shares, representing a decrease of 10.01%. The firm increased its portfolio allocation in OEC by 34.48% over the last quarter.
Orion Engineered Carbons Background Information
(This description is provided by the company.)
Orion Engineered Carbons is a global supplier of carbon black products including high-performance specialty gas blacks, acetylene blacks, furnace blacks, lamp blacks, thermal blacks, and other carbon blacks that tint, colorize and enhance the performance of polymers, plastics, paints and coatings, inks and toners, textile fibers, adhesives and sealants, batteries, tires, and mechanical rubber goods, such as automotive belts and hoses. The company has over 125 years of history providing customized solutions from a network of 14 global production sites and is dedicated to responsible business practices that emphasize reliability, innovation and sustainability.
Key filings for this company:
This story originally appeared on Fintel.
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